The Counterparty Portfolio Management (CPM) finance team is part of the GBAM CFO organization. The CPM desk manages XVA on Global Markets derivative portfolio, this consist of CVA (counterparty credit), DVA (own credit), FVA (funding) and any other related future pricing components on the derivative portfolio.
The primary focus of our team is to
1) Review valuations and perform price testing on XVA portfolio
2) Review and analyze the P&L and risk drivers
3) Review the month end close and perform quarterly disclosures related to XVA
4) Determine revenue recognition and new deal analysis along with interacting with other finance groups to understand XVA impact on new deals
Our business partners include the XVA trading desk. Key priorities for our team are ensuring the financial controls are in place for the XVA trading desk, provide feedback to the desk on price testing, valuation adjustments and daily, weekly and monthly PnL events, review the effectiveness of hedging and reviewing impact on new deals.
The candidate will work within the FVA-C Business Finance & Control team and will need to build a strong relationship with the business and other support functions. Strong communication skills, and a technical background in Global markets trading businesses, preferably XVA related.
The role will include the following:
Assist in the production of Daily, Weekly and Monthly P&L reports
Oversight on the official daily P&L explain and its provision for VaR backtesting.
Regulatory capital disclosures, Price Testing, Stress Test and Forecasting.
Assist in the production of monthly price testing/valuation reports.
Participate in the monthly and quarterly close process
Responsible for being audit compliant and meet the regulatory requirements.
Partner closely with Front Office, Operations and Technology to define business processes and implement related technology solutions.
Candidate will be involved with complex issues that impact multiple lines of business.
Communication skills will be heavily utilized through working with the many stakeholders involved with implementation
Risk and Issue identification, Management, and resolution.
The teammate in this role will see firsthand how current and future market and regulatory changes impact derivative pricing and valuations. In addition, the individual will be actively involved in discussions/process of XVA valuation changes in a dynamic environment.
Bachelor Degree in Accounting/Finance
Minimum of 4-8+ years financial industry/banking experience - preferred product control experience with derivatives products.
Advanced experience/skills with Excel and complex spreadsheets
Candidate must be able to work both independently and as team member
Strong communication and presentation skills
Strong problem solving and analytical abilities (Excel/Essbase)
Ability to manage multiple priorities and meet tight deadlines
MBA, CPA, CFA, or other advanced certification
Experience with Bloomberg, or Hyperion/Essbase/SAP
Control focused, analytical, team oriented, comfortable with complex products
1st shift (United States of America)
Hours Per Week:
Internal Number: 21035555
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.